4 Reasons You Might Need Emergency Funds



Having money on hand is always a good idea.  You never know when disaster can creep up on your life and more often than not it comes with a hefty price tag. Whether you decide to take out a loan if you need cash fast or have thought ahead and put away emergency savings, there are a variety of possibilities that could cause you to need these funds.

Take a look at some of the most common reasons that people say they need money suddenly.  And decide how ready you are if this should come your way.

Losing Your Job

You never know when something can come up that leaves you without employment.  Perhaps you and your employer weren’t seeing eye to eye and you find yourself fired.  Layoffs can be very common and usually unexpected.

Or maybe you opted for a career change and now find yourself in between jobs trying to find the perfect fit.

Whatever the reason may be, not having an income can be a completely jolting experience. Your flow of money coming in comes to a halt, but your expenses and bills stay the same.

A Health Emergency

A health emergency can be one of the most expensive emergencies that can happen to someone.  Even with insurance a trip to the emergency room or urgent care can leave a person in debt for thousands.

If you don’t have insurance you can plan on any sort of procedure to cost way more than most average people have in savings.  Even something as simple as getting a cavity filled can cost hundreds.

Pet Emergency

Being a veterinarian is a common goal to be as a grown up for many young children.  Parents smile and pat their little ones on the head as the adorable words “I wanna help sick animals when I grow up!” come out of their cute mouths.

However, parents should definitely support this seemingly adorable aspiration! Veterinarians make big bucks! Without pet insurance, your little Fido can cost tens of thousands.

A pet emergency is an especially difficult emergency for families because the life expectancy of animals is so much shorter than humans that it can leave a family in a difficult position of asking themselves if they can justify spending such a large amount on a creature that won’t likely be around for another 5-10 years.

Car Expenses

A car can be one of the most convenient objects a modern day person can own.  Grocery shopping is made easier, the commute to work, and getting around for any other to-do’s or leisurely activities is done in a fraction of the time.

As convenient as they may be, however, they also come with the price of unexpected expenses! You never know when something can go wrong from a timing belt to a popped timer.  And pretty much nothing on a vehicle is priced cheaply.

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